Dear WFE Shareholders,
Further to my Twitter post earlier today, I decided it was time to contact both the ASX and Winmar Resources directly to gain a greater understanding of the delays we have experienced in relation to the Re-Compliance Listing of WFE on the ASX.
Like most, I have been frustrated with the lengthy delays and never in my wildest dream envisaged being in suspension for over 12 months.
My 1st call was to the ASX where I was greeted by young woman named Selena who provided nothing more than a standard response ' I'm sorry, All I can provide is information available to you through company announcements'.
Not surprised by Selena's response, I politely re-worded my question to ' Who, In the ASX could provide me details about my investment and why the company still remains in suspension despite Winmar Resources providing an Updated Application for In-Principal Advice Regarding the Re-Compliance Listing to the ASX on 11/04/2019?
Selena proceeded to tell me I would need to speak with the Listing Adviser for WFE ( Charlotte Hope )
Unfortunately Listing Advisers are not available to speak with on the phone, However you are able to email them at
[email protected] she said.
Selena did advise that a response can take up to 14 days, So the waiting begins...... I will provide her response once I receive it
I did hear a rumor from a reliable source that Charlotte only works part-time ( 2 days per week ) and that she is the 6th Listing Adviser for WFE over the past 12 months ( Hmmm....Interesting )
My 2nd call was to Winmar Resources which to be honest & transparent did take me a little bit of time to find an active contact phone number as their website still has their previous Sydney address and contact numbers on it and hasn't been updated for some time I assume?
Fast forward and I finally locate a Perth phone number on the bottom of the most recent WFE announcement which I dial and am greeted by a ring tone to then only receive a computerized voice message saying we are unable to take your call, Please leave a message..... Which I did
I am pleased to say that within 15 minutes of leaving that message, I received a phone call from our Chairman, Jason Brewer.
Let me start by saying I was really impressed by Jason's willingness to provide me with a straightforward discussion ( 20 minutes ) about the future of WFE.
I did ask for Jason's permission to convey our discussion on social media and he was comfortable for me to discuss the main view points. So in the interest of confidentiality I have only shared a portion of our discussion.
Jason and the WFE Board share in our frustrations about the time taken to Re-List and Re-Comply with the ASX Listing Rules and they are doing everything they possibly can to get us back up and running.
The WFE Board are at the point of getting out an announcement towards the end of this week to articulate where we are at? And in making that step forward ( I believe their preference is to remain on the ASX ) however in need, they are also close to drawing a line in the sand to entertain other avenues to provide shareholders with another platform in which to trade their shares on? ( Maybe NSX - My Words, Not Jason's ) Dual-Listing with LSE is still a priority though
I believe the announcement towards the end of this week will be followed by other detailed step by step announcement in the next fortnight about the process with timings and so on.
Given it is a fairly sensitive time for WFE and it's shareholders, I feel the best advice I can give to other shareholders during this time is to contact Jason directly who is more than happy to discuss any of your concerns.
Personally I felt re-assured about my investment in WFE after speaking with Jason and are excited by the opportunities this company presents in the coming weeks.
I wish all holders and prospective holders the best
Cheers
